Title 16, Education

§ 2863. Guarantee The Corporation is authorized to guarantee that any education loan notes properly executed shall be repaid according to their tenor and, if guaranteed under the Higher Education Act, to the extent authorized under that act, provided, that in the event of default…

§ 2864. Reserve fund (a) The Corporation shall establish and maintain an allowance for loans not covered by a federal or other guaranty or insurance, using historical loan delinquency and default rates and other relevant information. To the extent the reserve fund contains any mo…

§ 2865. Default A holder of a loan guaranteed pursuant to this chapter may submit a default claim to the Corporation for payment when a borrower has failed to make an installment payment of principal or interest or both when due or to comply with other terms of the note or other …

§ 2866. Rights of minors A person under 18 years of age shall not be disqualified or lack capacity by reason of the person’s minority, but shall have the rights, powers, privileges, and obligations of a person of full age with respect to executing instruments under this subchapte…

§ 2867. Reserve and pledged equity funds (a) The Corporation may create and establish one or more special funds, referred to in this section as “debt service reserve funds” or “pledged equity funds.” (b) The Corporation shall pay into each debt service reserve fund: (1) Any monie…

§ 2868. Notes, bonds, and other obligations (a) Power to issue obligations. The Corporation may issue its negotiable notes, bonds, and other obligations in such principal amount as the Corporation determines necessary to provide sufficient funds for the availability of loans for …

§ 2869. Loan cancellation; mathematics, science, and computer science teachers (a) Loans obtained under this subchapter may be partially or completely cancelled and forgiven for a borrower who is employed for a complete academic school year as a full-time licensed teacher: (1) in…

§ 2875. Findings and intent (a) The general welfare and well-being of the State are directly related to the educational levels and skills of its citizens. (b) It is the policy of the State to advance postsecondary education opportunities by using the State’s limited resources in …

§ 2876. Definitions As used in this subchapter, except where the context clearly requires another interpretation: (1) “Beneficiary” means any individual designated by a participation agreement to benefit from payments for qualified postsecondary education costs. (2) “Benefits” me…

§ 2877. Vermont Higher Education Investment Plan created (a) There is created a program of the State to be known as the Vermont Higher Education Investment Plan and a trust for that purpose to be administered by the Vermont Student Assistance Corporation as an instrumentality of …

§ 2878. Participation agreements for Investment Plan The Corporation shall have the authority to enter into Investment Plan participation agreements with participants pursuant to the provisions of this subchapter, including the following terms and agreements: (1) A participation …

§ 2878a. Participation agreements for Investment Plan; Vermont Matched Savings Program The Corporation may participate in the Vermont Matched Savings Program established under 33 V.S.A. § 1123, in accordance with the rules of the Agency of Human Services adopted thereunder, in co…

§ 2879. Investment and payments All money paid by a participant in connection with a participation agreement shall be credited to the participant’s account as received, held by the Corporation in trust for the benefit of the participant, and shall be promptly invested by the Corp…

§ 2879a. Cancellation of participation agreements (a) Any participant may cancel a participation agreement at will, and any return of funds from the participant’s account shall be subject to terms and conditions established by the Corporation, provided that any penalties levied a…

§ 2879b. Effect of payments in computation and determination of financial aid need Amounts available for the payment of postsecondary education costs pursuant to the Investment Plan shall be considered family assets of the beneficiary in determining need and eligibility for stude…

§ 2879c. Tax exemption (a) The assets of the Vermont Higher Education Investment Plan held by the Corporation and the assets of any similar plan qualified under Section 529 of the Internal Revenue Code and any income from them shall be exempt from all taxation by the State or any…

§ 2879d. Property rights to assets in the Plan The assets of the Vermont Higher Education Investment Plan shall at all times be held in trust for the benefit of the participant, shall not be commingled with any other funds of the Corporation or the State, shall be preserved, inve…

§ 2879e. Construction and application This subchapter shall be construed liberally in order to effectuate its legislative intent. The purposes of this subchapter and all provisions of this subchapter with respect to powers granted shall be broadly interpreted to effectuate such i…

§ 2879f. Annual reports The Corporation shall review, on an annual basis, the financial status of the Program and the participation rate in the Program. The Corporation shall also review the continued viability of the Program and the administration of the Program by the Corporati…

§ 2880. Definitions As used in this subchapter: (1) “Approved postsecondary education institution” means any institution of postsecondary education that is: (A) certified by the State Board of Education as provided in section 176 or 176a of this title; (B) accredited by an accred…

§ 2880a. Vermont Universal Children’s Higher Education Savings Account Program established; powers and duties of the Vermont Student Assistance Corporation (a) It is the policy of the State to expand educational opportunity for all children. Consistent with this policy, the Vermo…

§ 2880b. Vermont Universal Children’s Higher Education Savings Account Program Fund (a) The Vermont Universal Children’s Higher Education Savings Account Program Fund is established as a fund to be held, directed, and administered by the Corporation. The Corporation shall invest …

§ 2880c. Initial deposits to the Program Fund (a) Each year, the Corporation shall deposit $250.00 into the Program Fund for each eligible child born that year, beginning on or after January 1, 2016. (b) In addition, if the eligible child has a family income of less than 250 perc…

§ 2880d. Vermont Higher Education Investment Plan accounts; matching allocations for families with limited income (a) The Corporation shall invite the parents or legal guardians of each Program beneficiary to open a Vermont Higher Education Investment Plan account on the benefici…

§ 2880e. Withdrawal of Program funds (a) Subject to the provisions of this section, the Investment Plan requirements under subchapter 7 of this chapter, and the rules, policies, and procedures adopted by the Corporation, a Program beneficiary shall be entitled to Program funds de…

§ 2880f. Rights of beneficiaries and their families (a) A parent or legal guardian shall be allowed to opt out of the Program on behalf of his or her child. (b) An individual otherwise eligible for any benefit program for elders, persons who are disabled, families, or children sh…

§ 2880g. Financial literacy programs State agencies and offices, including the Agencies of Education and of Human Services and the Office of the State Treasurer, in collaboration with existing statewide community partners and nonprofit partners that specialize in financial educat…

§ 2880h. Program Fund Advisory Committee (a) There is created a Vermont Universal Children’s Higher Education Savings Account Program Fund Advisory Committee to identify and solicit public and private funds for the Program and to advise the Corporation on disbursement of funds. (…

§ 2881. Vermont Higher Education Council; designation The Vermont Higher Education Council is hereby designated as the Vermont state postsecondary review entity for the purpose of reviewing all institutions of higher education that are eligible or which desire to become eligible …

§ 2882. Vermont state postsecondary review entity; powers and duties (a) The Vermont state postsecondary review entity shall review institutions of higher education in accordance with standards established in 20 U.S.C. § 1099a-3 and with standards established by the Vermont state…

§ 2885. Vermont Higher Education Endowment Trust Fund (a) A Vermont Higher Education Endowment Trust Fund is established in the Office of the State Treasurer to comprise the following: (1) transfers made by the General Assembly; (2) in any fiscal year in which a General Fund surp…

§ 2887. The Next Generation Initiative Fund (a) A Next Generation Initiative Fund is established in the Office of the State Treasurer to comprise appropriations made by the General Assembly and grants, donations, or contributions from any other sources. The Fund shall be administ…

§ 2888. Vermont Strong Scholars Initiative (a) Creation. (1) There is created a postsecondary loan forgiveness initiative designed to forgive a portion of Vermont Student Assistance Corporation loans of students employed in occupations identified as important to Vermont’s economy…

§ 2901. Success for all students in the general education environment (a) Each local school district shall develop and maintain, in consultation with parents, a comprehensive system of education that is designed to result, to the extent appropriate, in all students succeeding in …

§ 2902. Tiered system of supports and educational support team (a) Within each school district’s comprehensive system of educational services, each public school shall develop and maintain a tiered system of academic and behavioral supports for the purpose of providing all studen…

§ 2903. Foundation for literacy (a) Statement of policy. The ability to read is critical to success in learning. Children who fail to read by the end of the first grade will likely fall further behind in school. The personal and economic costs of reading failure are enormous both…

§ 2903a. Advisory Council on Literacy [Repealed effective June 30, 2027] (a) Creation. There is created the Advisory Council on Literacy. The Council shall advise the Agency of Education, the State Board of Education, and the General Assembly on how to improve proficiency outcome…

§ 2904. Reports Annually, each superintendent shall report to the Secretary in a form prescribed by the Secretary, on the status of the educational support systems in each school in the supervisory union. The report shall describe the services and supports that are a part of the …

§ 2906. Vermont Expanded Learning Opportunities Special Fund established (a) As used in this section, “Expanded Learning Opportunity” means a structured program designed to serve prekindergarten through secondary school-age children and youth outside the school day and year on a …

§ 2907. Kindergarten through grade-three reading assessment and intervention (a) The Agency of Education shall review and publish guidance on universal reading screeners based on established criteria that are based on technical adequacy, attention to linguistic diversity, adminis…

§ 2941. Policy and purpose It is the policy of the State to ensure equal educational opportunities for all children in Vermont. This means that children with disabilities are entitled to receive a free appropriate public education. The purpose of this chapter is to enable the Age…

§ 2942. Definitions As used in this chapter (1) “Child with a disability” means any child in Vermont eligible under State rules to receive special education. (2) “Special education” means, to the extent required by federal law, specially designed instruction, at no cost to parent…

§ 2943. Secretary of Education for children with disabilities; powers The Secretary of Education, by virtue of the office, shall be Secretary of Education for children with disabilities and shall superintend all matters relating to the essential early education and special educat…

§ 2944. Special education (a)-(c) [Repealed.] (d) The Secretary with the advice of the State Board may make grants for programs and may make grants, subject to conditions the Secretary shall establish, to persons whom he or she finds qualified for either part-time or full-time st…

§ 2945. State Advisory Panel on Special Education (a) The State Advisory Panel on Special Education (Panel) is created to provide guidance with respect to special education and related services for children with disabilities in the State. Members of the Panel shall be appointed b…

§ 2948. State aid (a) For the payment of general State aid, children with disabilities shall be counted in the same manner as children who do not have disabilities. (b) [Repealed.] (c) Each supervisory union shall receive an essential early education grant each school year. Grant…